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REGISTERED NUMBER: 03530136 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Victory Asset Management Ltd

Victory Asset Management Ltd (Registered number: 03530136)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Victory Asset Management Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTOR: T M Overton





SECRETARY: Mrs A Overton





REGISTERED OFFICE: 4 Riverview
Walnut Tree Close
Guildford
Surrey
GU1 4UX





REGISTERED NUMBER: 03530136 (England and Wales)





ACCOUNTANTS: Bristow Burrell
4 Riverview
Walnut Tree Close
Guildford
Surrey
GU1 4UX

Victory Asset Management Ltd (Registered number: 03530136)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 439,441 439,441

CREDITORS
Amounts falling due within one
year

6

438,977

438,977
NET CURRENT LIABILITIES (438,977 ) (438,977 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

464

464

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings 462 462
SHAREHOLDERS' FUNDS 464 464

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 March 2024 and were signed by:





T M Overton - Director


Victory Asset Management Ltd (Registered number: 03530136)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Victory Asset Management Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

The company does not depreciate its Improvements to Property. Although the Companies Act requires all fixed assets to be depreciated the directors consider a departure is necessary in order for the accounts to show a true and fair view. The depreciation which might otherwise have been charged is considered to be immaterial to the accounts as a whole and cannot be reasonably determined.


Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Victory Asset Management Ltd (Registered number: 03530136)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022
and 31 July 2023 439,441
NET BOOK VALUE
At 31 July 2023 439,441
At 31 July 2022 439,441

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 438,977 438,977

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

8. ULTIMATE CONTROLLING PARTY

Mr T Overton and Mrs A Overton are the ultimate controlling parties by virtue of their 100% ownership of the ordinary share capital of the company.